荷兰皇家壳牌Royal Dutch Shell （SHEL）2025年第三季度未审核业绩报告「NYSE」（英文版）（39页）.pdf

1、SHELL PLC 3rd QUARTER 2025 UNAUDITED RESULTSSUMMARY OF UNAUDITED RESULTSQuarters$millionNine monthsQ3 2025Q2 2025Q3 2024%Reference20252024%5,322 3,601 4,291+48Income/(loss)attributable to Shell plc shareholders 13,703 15,166-10 5,432 4,264 6,028+27Adjusted EarningsA 15,273 20,055-24 14,773 13,313 16

2、,005+11Adjusted EBITDAA 43,336 51,523-16 12,207 11,937 14,684+2Cash flow from operating activities 33,425 41,522-20(2,257)(5,406)(3,857)Cash flow from investing activities(11,622)(10,723)9,950 6,531 10,827 Free cash flowG 21,803 30,799 4,907 5,817 4,950 Cash capital expenditureC 14,899 14,161 9,275

3、8,265 9,570+12Operating expensesF 26,115 27,517-5 8,998 8,145 8,864+10Underlying operating expensesF 25,596 26,569-49.4%9.4%12.8%ROACED9.4%12.8%73,977 75,675 76,613 Total debtE 73,977 76,613 41,204 43,216 35,234 Net debtE 41,204 35,234 18.8%19.1%15.7%GearingE18.8%15.7%2,821 2,682 2,801+5Oil and gas

4、production available for sale(thousand boe/d)2,781 2,843-2 0.91 0.61 0.69+49Basic earnings per share($)2.31 2.39-3 0.93 0.72 0.96+29Adjusted Earnings per share($)B 2.57 3.16-19 0.3580 0.3580 0.3440 Dividend per share($)1.0740 1.0320+41.Q3 on Q2 changeQuarter Analysis1 Income attributable to Shell pl

5、c shareholders,compared with the second quarter 2025,reflected higher trading and optimisation margins,higher sales volumes and favourable tax movements,partly offset by higher operating expenses.Third quarter 2025 income attributable to Shell plc shareholders also included gains on disposal of asse

6、ts and impairment charges.These items are included in identified items amounting to a net loss of$0.1billion in the quarter.This compares with identified items in the second quarter 2025 which amounted to a net loss of$0.3 billion.Adjusted Earnings and Adjusted EBITDA2 were driven by the same factor